UPDATE 1-Two Chinese officials sacked for corruption

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Thu Feb 5, 2009 11:33pm EST

(Updates to add details of second case)

BEIJING Feb 6 (Reuters) - The chief of China's official export credit guarantee agency was kicked out of his post and the Communist Party over allegations that he accepted bribes, the country's insurance regulator said.

Tang Ruoxin, who had been head of Sinosure since the agency was established in 2001, "caused the state heavy losses in seeking benefits for special contacts," the China Insurance Regulatory Commission said on its website late on Thursday.

Tang allegedly offered a credit guarantee to Shanghai Hongsheng (Norcent) Technology Co, which later defaulted on a $245 million bank loan, the official Xinhua news agency reported.

Despite a series of high-profile anti-corruption campaigns, official graft remains a major complaint for common Chinese, and the ruling Communist Party has warned it could undermine its authority.

Separately, a local court in China's central Anhui province gave a life sentence to a former executive of stated-owned alcohol maker Anhui Gujing Group Co Ltd for bribery charges, the Xinhua News Agency reported on Friday.

Wang Xiaojin, the former chairman of the group, parent of listed Anhui Gujing Distillery Co Ltd 000596.SZ, was accused of accepting bribes worth more than 10 million yuan ($1.5 million) from 1991 to 2007, according to Xinhua. (Reporting by Simon Rabinovitch and Michael Wei; Editing by Ken Wills)

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